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China Services Grow at Fastest Pace Since July

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China’s services sector grew at the strongest pace in four months in October as new business picked up, encouraging companies to hire more workers, a private survey showed.

The figures were first reported by Chinese financial news outlet Caixin on its website at 0900 Beijing time. That was ahead of a scheduled embargo time of 0945.

The findings, along with upbeat official factory and services readings earlier this week, add to the view that the world’s second-largest economy is on a steadier footing.

Reuters

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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